Joanna Cosgrove, Online Editor03.07.13
In its latest consumer product goods (CPG) Times & Trends market snapshot, “2012 CPG Year in Review: Finding the New Normal,” SymphonyIRI confirmed that despite the signs of economic recovery, consumers are still driven by recession-era frugality, prompting CPG marketers to transition to a more traditional marketing approach.
“For 2012, we forecasted that shoppers would continue to define value largely based on price, manufacturers and retailers would pass ongoing commodity price increases on to the shopper, and private label sales would continue in their current ranges,” said Piyush Chaudhari, president of the Americas, SymphonyIRI. “These predictions largely came to pass, and we expect 2013 to resemble these same trends in many ways.”
In addition to the frugality trend, the researchers identified the following trends that not only defined 2012 but were also set to shape the 2013 CPG marketplace:
Shoppers will reduce the number of channels they visit. Share of consumers shopping at fewer than five channels grew three percentage points between Q1 and Q4 2012, and SymphonyIRI believed
“For 2012, we forecasted that shoppers would continue to define value largely based on price, manufacturers and retailers would pass ongoing commodity price increases on to the shopper, and private label sales would continue in their current ranges,” said Piyush Chaudhari, president of the Americas, SymphonyIRI. “These predictions largely came to pass, and we expect 2013 to resemble these same trends in many ways.”
In addition to the frugality trend, the researchers identified the following trends that not only defined 2012 but were also set to shape the 2013 CPG marketplace:
Shoppers will reduce the number of channels they visit. Share of consumers shopping at fewer than five channels grew three percentage points between Q1 and Q4 2012, and SymphonyIRI believed
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